TIANJIN, CHINA -- (Marketwire) -- 12/04/12 -- Pacnet today announced the signing of a definitive agreement with the Tianjin Wuqing government to jointly develop a data center in the Tianjin Wuqing Business District located in the Wuqing district in Tianjin, China.

Officials from MIIT, Tianjin Economic and Information Technology Commission, Wuqing District government and Carl Grivner, Chief Executive Officer of Pacnet were present at the signing ceremony held today in Wuqing. As part of the agreement, Pacnet's equity joint venture in China, Pacnet Business Solutions (China) or PBS, and the Tianjin Wuqing government will build and operate a data center in the Tianjin Wuqing Business District that is capable of hosting 2,000 racks, making it one of Pacnet's largest data centers.

"We are excited to work with the Tianjin Wuqing government to support their latest initiative to develop the Tianjin Wuqing Business District into a leading IT hub in North China," said Mr. Grivner. "We believe our strong international presence coupled with our local China expertise, will enable us to support Tianjin's development into a key technology hub in North China."

The Tianjin Wuqing Business District is strategically located between Beijing and Tianjin and an ideal location for enterprises looking to grow in North China.

"We are delighted to partner with Pacnet to deliver advanced data center capabilities in the Tianjin Wuqing Business District to meet the increasing demand for these services by the growing numbers of enterprises that are setting up here," said Zhang Yong, Secretary of Wuqing District Committee of the CPC, at the signing ceremony.

"With the international expertise from Pacnet, the new data center will be constructed and operated to meet international standards for sustainability and efficiency. This will support the latest efforts by the Ministry of Industry and Information Technology to promote the development of green data centers in China," said Xie Zhigang, Director of Cloud Research Center, MIIT.

The new facility will cater to the growing demand for data center and managed services for both China and foreign enterprises. Construction of the data center is estimated to cost about RMB 450 million (US$72 million) and will begin in early 2013, and is expected to be ready for service in early 2014.

The facility will be Pacnet's fifth data center in China and will support PBS's growing capabilities across the country. It builds on strategic initiatives that Pacnet has recently announced, including the sharpened focus on expanding its China network and range of services. Pacnet took an important step in this direction earlier this year in October, when it announced that PBS had obtained a license to expand its IP VPN service to cover 23 provincial administrative zones, up from 20 cities.

Pacnet currently operates over 300,000 sq ft of data center space across 24 data centers in the region that are interconnected by Pacnet's high speed network.

Pacnet is Asia Pacific's leading provider of integrated network and technology solutions for enterprise, service provider, and carrier customers. Ownership of the region's most extensive high-capacity submarine cable systems with over 46,000 km of fiber and connectivity to 24 data centers -- including its facilities in Hong Kong, Singapore, and Sydney -- gives Pacnet unparalleled reach to major business centers throughout the region including Japan, China, India, and the United States. Combined with a complete set of services for managed data, private line, hosting, co-location, and content delivery, its assets and experience in the region have helped Pacnet service large businesses worldwide including many of the Fortune 1000. Pacnet is headquartered in Hong Kong and Singapore, with offices in all key markets in Asia and North America. For more information, please visit: www.pacnet.com.

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